Related papers: Gentrification, Mobility, and Consumption
Urban displacement - when a household is forced to relocate due to conditions affecting its home or surroundings - often results from rising housing costs, particularly in wealthy, prosperous cities. However, its dynamics are complex and…
Gentrification is associated with rapid demographic changes within inner-city neighborhoods. While many fear that gentrification drives low-income people from their homes and communities, there is limited evidence of the consequences of…
The phenomenon of gentrification of an urban area is characterized by the displacement of lower-income residents due to rising living costs and an influx of wealthier individuals. This study presents an agent-based model that simulates…
We analyze the staggered entry of rideshare services across U.S. metropolitan areas, estimating its effect on the spatial redistribution and real outcomes of residents. Ridesharing services gentrify urban areas-especially those with ex-ante…
In this paper we analyze urban spatial segregation phenomenon in terms of the income distribution over a population, and inflationary parameter weighting the evolution of housing prices. For this, we develop a discrete, spatially extended…
We develop a stochastic free-boundary model of housing tenure decisions in markets with high mobility risk, such as areas near military installations. Housing prices and rents follow correlated diffusion processes, and households face an…
We represent the functioning of the housing market and study the relation between income segregation, income inequality and house prices by introducing a spatial Agent-Based Model (ABM). Differently from traditional models in urban…
Addressing issues of social diversity, we introduce a model of housing transactions between agents who are heterogeneous in their willingness to pay. A key assumption is that agents' preferences for a location depend on both an intrinsic…
We analyze how equilibrium housing prices are determined in the process of economic development within an overlapping generations model with perfect housing and rental markets. We characterize the rent growth rate in all equilibria. The…
The US housing market exhibits pronounced seasonal cycles: prices and sales rise through spring, peak in summer, and decline through autumn and winter. Since 2021, this pattern has shifted earlier in the calendar year, with spring…
In this paper, we investigate the impact of mortgage rates on home prices, and how the impact may be used to help property purchase discussions at individual buyer level and to adjust home price indices across time. A mortgage-rate-adjusted…
Motivated by the need to understand the factors driving gentrification, we introduce and analyze two simple dynamical systems that model the interplay between three potential drivers of the phenomenon. The constructed systems are based on…
We study the equilibrium behavior in a multi-commodity selfish routing game with many types of uncertain users where each user over- or under-estimates their congestion costs by a multiplicative factor. Surprisingly, we find that…
We study the distributional implications of uncertainty shocks by developing a model that links macroeconomic aggregates to the US distribution of earnings and consumption. We find that: initially, the fraction of low-earning workers…
Why are some neighborhoods strongly connected while others remain isolated? Although standard explanations focus on demographics, economics, and geography, movement across the city may also depend on cultural styles and amenity mix. This…
Residential electrification of transport and heat is changing consumption and its characteristics significantly. Previous studies have demonstrated the impact of socio-techno-economic determinants on residential consumption. However, they…
Issues such as urban sprawl, congestion, oil dependence, climate change and public health, are prompting urban and transportation planners to turn to land use and urban design to rein in automobile use. One of the implicit beliefs in this…
In this work we characterize sudden increases in the land price of certain urban areas, a phenomenon causing gentrification, via an extended Schelling model. An initial price rise forces some of the disadvantaged inhabitants out of the…
In this article, we develop a model for the evolution of real estate prices. A wide range of inputs, including stochastic interest rates and changing demands for the asset, are considered. Maximizing their expected utility, home owners make…
The COVID-19 pandemic presents challenges to both public health and the economy. Our objective is to examine how household expenditure, a significant component of private demand, reacts to changes in mobility. This investigation is crucial…